Weekly Rewind: Top 10 Stories On CXOToday (Jun 26-30)
The week started with hackers unleashing a major cyber attack that caused huge disruption to companies and governments across the globe including in the UK, US and Russia - and it did not spare India, among other countries. The ransomware appears to have been spread through popular accounting software and specifically targeted at bringing down business IT systems. CXOToday covered a series of articles on Petya ransomware damages and ways to prevent Petya and similar attacks, before they happen.
GST was undoutedly the flavor of the week. As part of your GST awareness campaign, we bring to you expert articles on the various challenges, opportunities and impact of GST on businesses across industry verticals. While the debate continues whether India is GST ready or yet to be, experts are now having a wait and watch approach after GST rolls out on July 1.
The week was eventful in many other ways. Exactly 10 years ago today, on June 29, 2007, the original iPhone went on sale. While enterprise handset makers like BlackBerry and Palm gradually faded in the backyard, Apple made a big shift from what was fundamentally a consumer product, bringing it into the workplace, forcing corporate IT departments to rethink mobility in the workplace. We bring to you a feature how how iPhones redefined enterprise mobility and what lies ahead.
Like every week, this week too, we also have for you interesting interviews, case studies, infographics, and expert columns on various emerging technology and market trends and challenges in the enterprise space.
Here are some of the top stories of the week on CXOToday you would not want to miss.
Perhaps it is an ardent call for all enterprises and organizations that above and beyond every technology, security must be prioritized and built robust. In May, ransomware Wannacry overhauled innumerable computers around the world, demanding huge amount of cryptocurrency to give back access to files of the owners. And now a fresh piece of Wannacry like ransomware dubbed Petya is doing rounds and paralyzing organizations globally. Recent ransomware campaigns like WannaCry and Petya have shown the world that there is no substitute for mature multi-layered security solutions and practices. Attacks impacting one’s personal or business information occur without warning and often cause irreversible damage.
From the launch of the first Apple iPhone a decade ago, Apple has sold more than 1 billion iPhones, and customers have downloaded more than 180 billion mobile applications from its App Store, shaking up the world of enterprise mobility. While enterprise handset makers like BlackBerry and Palm gradually waned in the backyard over the years, Apple made a big shift from what was fundamentally a consumer product, bringing it into the workplace, forcing corporate IT departments to rethink mobility in the workplace.
The bank branches have no choice but to think about changing realities. Customers’ branch visits have decreased by 20 percent over the past decade and the history is about to change further. The focus now will be on delivering more value at less operational cost. The majority of the transactions will move into self-service and the role of the tellers will be more advisory and less transactional in nature. Small will indeed be the new big.
India’s finance Minister Arun Jaitley says that the implementation of the landmark goods and services tax (GST) regime, proposed from April 1, 2016, would increase India’s gross domestic product (GDP) by one to two per cent. “This (GST) has the potential to push India’s GDP by one to two per cent. in the countries that have adopted the GST model of indirect taxation, no such drastic upping of the GDP rates has been witnessed, although, globally, several countries have experimented and implemented the GST.
GST will have an effect on many sectors, including textiles and fashion. From raw material producers to ready-made online distributors, every segment will feel the change, as consumer buying habits will be affected by the new tax regulations. The GST also includes specific sections that deal with compliance for e-retailers and online aggregators, adding more clarity to what has been a grey area in many aspects.
Starting a new SME? Good for you. Entrepreneurs such as you are the backbone of the economy and you should rightly be excited by the opportunities that await. But, it’s time to get real. About one in five businesses survive their first year, half then don’t last five years and a third make it past their tenth anniversary. The market is an unforgiving place and you need to make sure your SME sits within the survivors. Here are some top money management tips to deploy in your new SME.
GST is expected to play a crucial role in growth of the economy and bring endless opportunities to businesses. While impacting almost all industries and businesses, in some way or the other, it will create a common Indian marketplace and reduce the cascading effect of taxes. To put it succinctly, GST will subsume all indirect taxes and create just one rate for the entire nation. In a brief interaction with CXOToday, Anuj Aggarwal, Vice President & CFO, Canon India speaks on the company’s GST readiness and the opportunities and challenges that exist in this space.
GST is presumably one bold step that will fortify the tax mechanism and with technology forming the backbone it may leave no room for tax evaders. GST Rates have been formulated primarily keeping in view the needs of the common man. It is to ensure the basic necessities are affordable for livelihood. While the uncertainty in the roll out, lack of clarity in the rates on various goods & services and the methods of declaring & submitting invoices is leading to the chaos and confusion, it may be noted, the government through its various agencies and social media is trying to educate entrepreneurs on this BIG Change.
The pace of technology change is breathtaking. In the new digital economy, it is up to the decision makers to leverage technology to create positive chang and thereby transform business and society. A new study explores what separates the winners from the losers in the digital economy. The report “The Great Rethink: How Digital Leaders Are Building Tomorrow’s Organizations” states that today’s corporate leaders must realize that they need to disrupt or risk being disrupted. Those who are not yet thinking about how they will innovate with new approaches leveraging technology are at risk,
Affecting almost every industry, the influence of technology was seen upon the travel sector too. The current trends in technological innovations are not just changing customer expectations but also their behavior. In order to gain insight into how technology shall shape up the travel sector’s future, we need to access the impact it has in the present.
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